That’s always been a great detriment to preservation but this stops even trading in or borrowing games, akin to the XboxOne idea which was widely panned. They severely damaged the long-term aspects of physical media by shipping incomplete discs but now they’re damaging the short-term benefits too.
I’ve been almost exclusively PC where physical media died long ago, but there will be piracy and much longer time to buy a product legitimately (look at GoG). Console losing physical copies means a near monopoly on the pricing and distribution of games with no means to recoup costs by selling, rent a game (outside of their first party service) or share with friends. It all sucks.